Burns, Mairin
May 2003
Investment Dealers' Digest;5/26/2003, Vol. 69 Issue 21, p26
Trade Publication
For some U.S. companies it is payback time-in the form of dividend deals, a change in refinancing that is surging in popularity. The onset of the refinancing industry, coupled with historically low interest rates, make for especially ripe conditions under which these companies can give something back to their private equity investors, which haven't had many exit options for their investments in recent years. As borrowers resort to surging loan and high-yield bond markets to refinance existing debt, those that can afford also are restructuring to include a special payment to their financial sponsors.


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